Freddie Mac (OTCMKTS:FMCC – Get Free Report) shares traded up 10.2% during trading on Wednesday . The stock traded as high as $6.25 and last traded at $6.19. Approximately 1,949,269 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 3,082,233 shares. The stock had previously closed at $5.6170.
Analyst Ratings Changes
Several brokerages recently weighed in on FMCC. Mizuho assumed coverage on Freddie Mac in a report on Monday, May 4th. They set an “outperform” rating and a $9.00 target price for the company. Keefe, Bruyette & Woods lowered their price objective on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. Finally, BTIG Research lowered Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.
Read Our Latest Stock Report on FMCC
Freddie Mac Stock Performance
Freddie Mac (OTCMKTS:FMCC – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.01 EPS for the quarter. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $5.61 billion. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%. As a group, research analysts predict that Freddie Mac will post 0.01 EPS for the current year.
Freddie Mac Company Profile
Freddie Mac (OTCMKTS:FMCC), officially the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise chartered by Congress in 1970 to enhance liquidity and stability in the U.S. housing finance system. Headquartered in McLean, Virginia, the company operates under the supervision of the Federal Housing Finance Agency (FHFA) and carries a congressional mandate to support affordable, sustainable homeownership and rental housing markets nationwide.
The company’s primary business activities involve purchasing mortgage loans from approved lenders, pooling them into mortgage-backed securities (MBS), and guaranteeing the timely payment of principal and interest to investors.
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